Tesla’s Q2 Earnings: Steady As She Goes

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Tesla has released their shareholder statement for Q2 2011, and while it doesn’t make for the most exciting reading, it’s at least full of fairly good news. They’ve been on cruise control for quite a while now, if you will, designing and testing their Model S sedan, but there are plenty of pitfalls that could have afflicted the process, techniques and technologies that could have failed to pan out, and cost overruns that could have piled up. But no, things are going as expected and barring any major upsets, they should have the Model S rolling out in mid-2012 as planned.

Here are a few Q2 takeaways from the letter:

Total revenue for Q2: $58m ($27m in Roadster revenue, $19m from Toyota for RAV4 EV development, $11m from powertrain sales)

Basically we’re not going to hear much news until the production Model S starts hitting car mags (we’ll try to get one too), the Model X gets leaked or previewed, and the RAV4 gets priced and dated — all of which will be happening in 2012, most likely. That means a few more quiet quarters. With so many pre-orders for the Model S, they’re sure to have plenty of revenue as soon as they start charging their customers — with a few hundred million dollars locked down for the next few years, they’re feeling confident and I’m guessing their investors are as well.

Update: Elon Musk mentioned in the conference call that they plan to unveil the Model X prototype in mid-December.